Russell Investments Group Ltd. Has $13.90 Million Stock Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Russell Investments Group Ltd. trimmed its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 18.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505,012 shares of the financial services provider's stock after selling 115,168 shares during the period. Russell Investments Group Ltd. owned approximately 0.59% of Seacoast Banking Co. of Florida worth $13,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SBCF. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider's stock worth $318,000 after acquiring an additional 380 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Seacoast Banking Co. of Florida by 6.0% during the 4th quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider's stock worth $231,000 after buying an additional 478 shares during the period. Victory Capital Management Inc. lifted its stake in Seacoast Banking Co. of Florida by 1.7% in the fourth quarter. Victory Capital Management Inc. now owns 35,518 shares of the financial services provider's stock valued at $978,000 after buying an additional 585 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after buying an additional 679 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Seacoast Banking Co. of Florida by 0.3% in the fourth quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider's stock valued at $7,048,000 after buying an additional 717 shares during the period. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Stock Up 0.5 %

Seacoast Banking Co. of Florida stock traded up $0.12 during mid-day trading on Wednesday, reaching $22.65. The company's stock had a trading volume of 39,721 shares, compared to its average volume of 451,473. The business's 50 day simple moving average is $26.24 and its 200 day simple moving average is $27.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 15.86 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. As a group, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida's payout ratio is presently 50.35%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SBCF shares. Stephens boosted their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. StockNews.com raised Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Raymond James reaffirmed an "outperform" rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $30.00.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.